Askari General Insurance names new chairman after 51% stake transfer

Profit by Pakistan Today reported that Askari General Insurance has installed Lt Gen Anwar Ali Hyder (Retd) as its chairman after a board reshuffle. The changes followed the handover of 51,337,953 shares, equal to a 51% holding, from Army Welfare Trust to Fauji Foundation on August 28, 2026. The insurer's notice to the PSX, issued on Thursday, tied the revised board to that completed transfer.

Four directors, namely Maj Gen Syed Anis Akbar (Retd), Maj Gen Abid Latif Khan (Retd), Malik Riffat Mahmood and Brig Salman Nazar (Retd), resigned with effect from September 28, 2026. The board accepted those exits and, subject to SECP approval, named Syed Bakhtiar Kazmi, Muhammad Majid Munir and Brig Irfan Khan as directors alongside Hyder, filling casual vacancies for the rest of each outgoing director's term. Hyder also took over the chair for the remainder of the term held by Anis Akbar.

Committee memberships across audit, investment, and ethics, human resource and remuneration were also reset, effective immediately. The board resolution will be tabled at its next meeting for noting and recorded in the minutes.